Gentrack Group's FY24 financial results

Gentrack Group (ASX:GTK) has announced its financial results for the fiscal year ending 30 September 2024. The company reported a significant increase in revenue, reaching $213.2 million, which marks a 25.5% rise from the previous year. Despite a slight drop in statutory NPAT to $9.5 million, Gentrack strengthened its financial position with cash reserves rising to $66.7 million. No dividend was declared as the company focuses on growth in expanding utilities and airports markets.

Gentrack Group's strategic growth and outlook

Gentrack Group (ASX:GTK) has delivered a robust financial performance with substantial revenue growth in FY24. The company's utilities segment saw a 23% increase, and its airports division, Veovo, reported a 45.5% rise in revenue. Gentrack's strategic acquisition of a stake in Amber and its focus on AI and dynamic pricing solutions underscore its commitment to innovation and sustainability. With a strong cash position and ongoing market expansion, Gentrack aims for sustained revenue growth and improved EBITDA margins in the coming years, as it prepares its first Climate Statement to emphasize its sustainability efforts.

Executive commentary on FY24 performance

We are pleased with the strong revenue growth achieved in FY24, particularly in our utilities and airports divisions. Our strategic investments and focus on sustainability are driving significant market expansion and technological advancements. We remain committed to supporting our customers in their journey towards a net-zero future and are well-positioned for continued growth in FY25.